“Canada is one of the only countries with substantial energy reserves that
offers an open and transparent market and the backing of a stable democracy
that respects the rule of law,” he said.

Meanwhile, Finance Minister Joe Oliver said the U.S. administration’s further
indefinite delay of the proposed $5.4-billion oil pipeline to tap into Canada’s
crude oil hurts employment and energy security on both sides of the border.

Sunday, April 20, 2014

The Bank of Canada’s governor said a further interest-rate reduction is
possible as he pared back the country’s first-quarter economic growth estimate.

“We are neutral – that means a rate cut cannot be taken off the table at
this stage,” Stephen Poloz said.

His comments came as the central bank kept its trendsetting interest
rate at 1 percent, where it has been since September 2010.

Economic growth will slip to 1.5 percent, down one percent, for the
first quarter largely because severe winter weather kept shoppers home.
Full-year economic growth was revised to 2.3 percent, down 0.2 percent.

The somewhat negative comments caused the dollar to fall, giving another
boost to the economy by making Canadian goods less expensive in the U.S. and
abroad.

Exports could be harmed, however, due to the Russian situation with
Ukraine, Poloz said.